Ross renovated the interior and built a new wing to the 11,000-square-foot home, originally designed by architect Preston Bolton. The contemporary home features a kitchen with an 8-foot by 12-foot island and Miele appliances; a home automation system; a walk-in closet and a separate shoes and accessories closet; two master bedrooms; fountains and a backyard pool; an outdoor kitchen, bar and fireplace; and an office for a house manager.

When Ross took the newly rebuilt home to market recently, it garnered three bids from buyers, all locals. The home is currently under contract to close within the month, Ross said.

However, Ross said he believes the right home in the right neighborhood at the right price can still sell — even in a down market.

Ross, the founder of Al Ross Luxury Homes, is launching a new “Signature” line of homes in River Oaks that will span between 10,000 square feet and 15,000 square feet, and cost between $8 million and $9 million. Ross said he believes this is the sweet spot for a new wave of homebuyers in River Oaks.

“We’re going to focus only on large properties,” Ross said.

Ross said he has noticed a gradual demographic shift in his homebuyers in River Oaks. As empty nesters look to downsize and Baby Boomers begin to retire, there is a younger generation of wealthy homebuyers in their late 30s and 40s who are looking to move into River Oaks, but want a more contemporary home.

Ross, who specializes in building and renovating homes in River Oaks, said he believes his more contemporary homes with smart-home features can attract this younger buyer demographic.

“River Oaks has always had this cloud of old money, but it’s clearly changing and attracting a much younger crowd,” Ross aid. “These buyers want modern homes and clean lines.”

Nancy Almodovar, the founder and president of Houston-based luxury brokerage Nan & Co., is listing and marketing all of Ross’ properties. The luxury Realtor said all of Ross’ homes in River Oaks have sold within a month of listing, much of that driven by younger homebuyers.

“River Oaks is changing,” Almodovar said. “We’re seeing a lot of young professionals looking in River Oaks.”